Special Report-Trump Puts Tariff on Canadian Aluminum

US President Donald Trump declared on August, 6th that he would reinstate a tariff on Canadian aluminum just one month after the two countries signed a new trade deal. President Trump said he believed a 10% tariff would help the struggling American aluminum workers.

Trump announced in his speech in Ohio that he signed a proclamation to reinstate a 10% tariff on Canadian aluminum, and claimed that Canada was taking advantage of them as usual. He also added that USA should be a manufacturing nation, and to do that meant protecting their industrial base.

The original levy against Canada, Mexico, and the EU was introduced in 2018, and was lifted when Mexico, Canada and the US agreed on a new trade deal. The US retained the right to put back the tariff if they saw a spike in aluminum imports. President Trump also cited that clause in his speech and claimed that Canadian aluminum producers did not keep their promise.

Canadian Prime Minister, Justin Trudeau announced on his Twitter account that Canada would impose countermeasures including a dollar-for-dollar retaliatory tariff.

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